|Price/Rent PSF||$ 380,000.00|
|SQ. FT. Available||3,278|
Hamilton Street. East to Right on S 9th Street. Or...Route 22. 7th Street Exit. Right off of the exit. Right at Linden Street. Left onto 9th.
28 S. 9th Street- Is a gorgeous 3,278 SF brick, three-story building with four legal apartments and retail/office space on the ground floor.
This property is ideal for an investor/developer interested in developing and renovating cash flow properties in a QOZ (Qualified Opportunity Zone). This property is zoned B-2 Central Business.
This property can also be sold as a package deal with the following:
-32 S. 9th Street- an attractive 2 1/2 story building with lots of potential. The structure is 3,438 SF with office/retail on the ground floor and apartments above.
-38 S. 9th Street- a three-story 2,904 SF brick building with office/retail on the first floor and four apartments overhead. The building also has a full basement for lots of storage space.
- 41 S. 9th Street- a single-family three-story stucco single-family. Property is a spacious 3,075 SF and includes an attached private garage and full basement.
What is a QOZ? According to the IRS:
A Qualified Opportunity Zone (QOZ) is an economic development program where new investments made, under certain conditions, may be eligible for preferential tax treatment. The QOZ program provides a tax incentive for investors to re-invest their unrealized capital gains into Qualified Opportunity Funds that are dedicated to investing into QOZs designated by Pennsylvania’s Governor. Downtown Allentown has three census tracts that have been designated for a Qualified Opportunity Zone, and all four of these investment properties are in this QOZ zone.
Downtown Allentown, PA, has been burgeoning in recent years due to another economic program called the Neighborhood Improvement Zone (NIZ). The NIZ legislation created in 2009 has inspired major developers such as City Center Investment Corp. to invest approximately $800M into major development projects that has helped with the transformation of Downtown Allentown. Recent mixed-use projects such as Five City Center, 520 Loft, Tower 6, and a newly proposed 120 unit apartment community at 9th and Hamilton Street have added to the growth of this outstanding City. The following properties offered for sale are located within a block of these significant developments.
Buildings are located in a qualified opportunity zoned which offers Tax advantage that is tailored to investors to defer taxes by reinvesting capitals gains from an asset sale into a qualified opportunity fund during the 180-days period. For more information go to https://lehighvalley.org/qoz